ICE Carbon Index Futures

Highlights

  • The Global Carbon Index hit an all time record of $39.08 in February. This record was largely driven by the rise in EUA futures pricing, which reached a record high of 40.64 EUR on February 15.
  • 257,526 lots traded across the North American environmental product suite, representing a 11% increase over February 2020 and an all-time record for the month.
  • All-time record month for EUA options with 412,426 lots, 42% more than traded in January 2021. The previous highest month was March 2020 with 372,499 lots.
  • ICE's latest UK cap and trade program will launch on May 19 to support the UK in lowering emissions after Brexit.

Carbon & Renewables

North America

  • CCA volume was 111,917 lots, with 83,236 lots of futures and 28,681 lots of options
  • RGGI volume was 10,612 lots, with 10,312 lots of futures and 300 lots of options

Europe

  • EUA futures volume was 858,801 lots, a 66% increase on January 2021
  • ICE will be hosting the inaugural UK Allowance Auction on 19 May 2021, with UKA Futures listed in parallel. UKA Daily Futures will be listed on 21 May. Please find further details here
  • Please see the UKA Auction website for the Auction Calendar, and instructions on how to participate here

Renewables

  • A new monthly volume record was set for REC and SREC futures with a combined 134,262 lots traded. The previous record was 120,318 lots in March 2020
  • A new monthly volume record was set in PA SREC futures with 7,935 lots traded. The previous record was 4,772 lots in January 2019
  • PJM Tri REC futures traded 59,686 lots, representing the second largest monthly volume total. The all-time record is 64,803 lots in March 2020

Key Dates & Events

North American environmental expiry, deliveries and auction:

  • Option Expiry: 15 March 2021
  • Last Trade Day: 26 March 2021
  • Delivery Day: 31 March 2021
  • CCA Joint Auction #26 which occurred on February 17 was fully subscribed, with 54.7 million current and 8.3 million advanced allowances selling at $17.80 and $18.01 respectively
  • RGGI Auction #51 which occurred on March 3rd was fully subscribed, with 23.5 million allowances selling at $7.60

EUA expiry and deliveries:

  • EUA Futures last trade day: 22 March 2021
  • EUA Futures delivery day: 25 March 2021

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Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS)”.